Vinashin

The People's Court in the central province of Khanh Hoa yesterday sentenced four people to prison terms of 15 to 22 years in the corruption case involving repairs to floating dock 83M belonging to Viet Nam National Shipping Lines (Vinalines).

VietNamNet Bridge – Debts owed by State-owned enterprises (SOEs) to both domestic and foreign creditors are too big for the Government to shoulder, especially at a time when public debts are posing a big headache.

VietNamNet Bridge – The Ministry of Finance (MOF) does not make public the names of borrowers of the capital the government mobilizes through its international bond issuances, making it difficult to control repayment obligations of debtors.

(VOV) -The first autonomous underwater vehicle (AUV) , built by Cam Ranh Shipyard in central Khanh Hoa province, has successfully completed its trial run at Cam Ranh Bay, the Ministry of Science and Technology announced on September 22.

VietNamNet Bridge – While Shipbuilding Industry Corporation (SBIC), the successor of the debt-laden Vinashin, is about to undergo the second debt restructuring phase, Vietnam National Shipping Lines (Vinalines) is struggling to settle debts previously transferred from Vinashin.

Many National Assembly members have suggested that the law on management and usage of state capital invested into enterprises’ production and business specify a concrete new model for state capital ownership in enterprises.

VietNamNet Bridge – To move ahead with its restructuring process, SBIC (the Shipbuilding Industry Corporation) still needs to find solutions for 73 subsidiaries, but no one has made an offer to take them over.